Breakout Brewing In Healthcare Stocks: SEBI Analyst Sees Potential In These Four Stocks

The healthcare sector could be gearing up for its next big move. For the past few weeks, the index has been consolidating, which is often considered a good sign. Stocks or sectors that consolidate before a breakout usually see strong momentum once the breakout happens. 

SEBI-registered analyst Mayank Singh Chandel noted that the healthcare sector is trading very close to its all-time high, which is also acting as a resistance zone. He has flagged four stocks to watch from this space for potential upside in the future. 

Fortis Healthcare

Chandel believes that Fortis is currently the strongest stock in the healthcare space. It’s trading at an all-time high and has shown solid momentum recently. However, it’s better to avoid fresh entries right now and wait for a healthy pullback. 

Fortis Health has gained 51% year-to-date (YTD).

Apollo Hospitals

For Apollo Hospitals, Chandel said that the stock is in a long-term uptrend and forming an ascending triangle pattern. A breakout above ₹8,000 could open the door for a strong upward move. 

Apollo Hospitals has gained 5% YTD.

Aurobindo Pharma

Aurobindo was trading near its support zone. If the healthcare sector shows strength, this stock is also likely to bounce back, according to him. 

The stock has shed 15% so far this year. 

Torrent Pharmaceuticals

Torrent Pharma is currently inside a descending triangle pattern. Once it breaks out on the upside, the stock has a high probability of showing good momentum, Chandel added. 

Torrent Pharma has gained 5% YTD.

He advised traders to closely monitor the healthcare sector, adding that a a breakout from here could trigger a new rally in several healthcare names. 

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